Posts Tagged ‘vacancy’

1.4 Million Residential Properties Vacant in 3Q

Posted on November 02, 2017 by Laura Lam

Nearly 1.4 residential properties were vacant at the end of the third quarter, according to ATTOM Data Solutions’ 2017 U.S. Residential Vacant Property and Zombie Foreclosure Report.  The vacant properties represent 1.58% of all residential properties, which is a 1.63% decrease in vacant properties from one year ago, the report found. However, the report also found that rate of vacant properties increased in more than half of the metropolitan area analyzed, including Chicago, New York, St. Louis, Baltimore and Phoenix. ATTOM also found that that the number of vacant “zombie” pre-foreclosure properties – which have started the foreclosure process but…

Homeownership Up From 50-Year Low

Posted on August 09, 2017 by Laura Lam

The U.S. homeownership rate climbed in the second quarter, a signal that the sharp downward spiral that began after the housing crash is finally reversing.  The homeownership rate hit 63.7% in the second quarter, the Census Bureau said, a jump of nearly a full percentage point from a year ago, when it touched a 50-year low of 62.9%. The share of Americans who own homes has climbed steadily since then.  The homeownership rate also edged up from the first quarter, when it sat at 63.6%. “The damage the [2007-09] great recession has done to the homeownership rate is likely reversing course,” said…

Housing Still Faces Obstacles; Could Be ‘Engine of Growth’

Posted on June 28, 2016 by Laura Lam

The Joint Center for Housing Studies (JCHS) at Harvard University released its 2016 report on The State of the Nation’s Housing. Calling the housing sector “an engine of growth,” the study found that the need to replace old housing and to meet demand for vacation homes and other units, new housing construction should average “at least” 1.6 million units annually for the next decade. New home building faces some headwinds however. Tighter lending rules are one serious issue. Mortgage lenders have made essentially no loans to potential buyers with subprime credit scores (below 620) and have cut back sharply on loans to applicants…